Bessemer Group Inc. Boosts Stock Holdings in GameStop Corp. (NYSE:GME)

Bessemer Group Inc. lifted its holdings in shares of GameStop Corp. (NYSE:GME) by 67.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,720 shares of the company’s stock after buying an additional 691 shares during the quarter. Bessemer Group Inc.’s holdings in GameStop were worth $54,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of GameStop by 223.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 990 shares of the company’s stock worth $31,000 after acquiring an additional 684 shares during the period. New Wave Wealth Advisors LLC purchased a new position in GameStop during the 4th quarter valued at about $37,000. R Squared Ltd bought a new stake in shares of GameStop during the fourth quarter valued at about $51,000. UMB Bank n.a. lifted its holdings in shares of GameStop by 59.9% in the fourth quarter. UMB Bank n.a. now owns 1,820 shares of the company’s stock worth $57,000 after buying an additional 682 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of GameStop by 32.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,130 shares of the company’s stock valued at $67,000 after acquiring an additional 520 shares during the period. 29.21% of the stock is owned by institutional investors.

GameStop Trading Up 2.1 %

Shares of GME opened at $26.81 on Friday. GameStop Corp. has a 12-month low of $10.01 and a 12-month high of $64.83. The company has a market cap of $11.99 billion, a PE ratio of 148.95 and a beta of -0.44. The stock has a 50-day moving average price of $24.61 and a 200-day moving average price of $25.95.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. GameStop’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. As a group, analysts predict that GameStop Corp. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lawrence Cheng acquired 5,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $21.54 per share, for a total transaction of $107,700.00. Following the acquisition, the director now owns 83,000 shares of the company’s stock, valued at $1,787,820. This trade represents a 6.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel William Moore sold 1,608 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $22.53, for a total value of $36,228.24. Following the transaction, the insider now directly owns 29,777 shares in the company, valued at approximately $670,875.81. This represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 515,000 shares of company stock worth $11,140,200. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GME shares. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush set a $11.50 price target on shares of GameStop in a report on Wednesday, March 26th.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.